MSCI: Small Cap Indices Turn in Impressive October Returns
Non-sector indices continued their winning ways in October to turn in positive returns across the board. Joining small cap indices at the top were their mid counterparts, Mid Cap Growth and the Mid Cap 450 Index, which were up 7.97% and 7.51%, respectively. For the year, the two have now added 34.61% and 31.61%, respectively, compared with Small Cap Growth’s 44.52% the 1750 Index’s and 38.72% returns, according to data provided by MSCI.
Value plays in the two categories also turned out to be good bets, as MSCI’s Small Cap Value Index was 7.08% higher and the Mid Cap Value was better in October by 7.02%. Year-to-date, the two indices have impressive 33.04% and 28.79% returns, respectively.
Investable market and prime market indices constituted the majority of the second tier of October returns. Gaining 6.55% (26.25% YTD) was the MSCI Investable Market Growth Index, followed by the Prime Market Growth’s 6.23% (24.31% YTD) and Investable Market 2500 Index’s 5.97% (23.58%YTD). Other index monthly returns included:
- Prime Market 750 Index – 5.72% (21.98% YTD)
- Investable Market Value Index – 5.40% (21% YTD)
- Prime Market Value Index – 5.21% (19.74% YTD).
Still equally impressive are large cap’s positive performances for the month. The MSCI Large Cap Growth Index led all with a 5.91% performance (22.58% YTD), compared with the Large Cap 300 Index’s 5.40% (20.36% YTD) and the Large Cap Value Index’s 4.89% (18.24% YTD).
Examining the sector indices , Consumer Discretionary led the way, garnering a 9.34% return in October (33.11% YTD). This was followed by Information Technology’s 9.24% (45.47% YTD) and Materials’ 8.54% (20.05% YTD) October performances. Other sector indices of note included:
- Financials – 6.71% (26.15% YTD)
- Telecom – 6.08% (1.48% YTD)
- Industrials – 5.70% (23.22% YTD)
- Consumer Staples – 5% (9.78% YTD)
- Utilities – 1.53% (18.35% YTD)
- Health Care – 1.23% (11.79% YTD)
- Energy – 1.10% (9.63% YTD).